Energy Vault Q2 rev +126% to $8.5M; backlog $954M; $300M preferred equity deal

Energy Vault Holdings, Inc.

2025-Q2 EPS reported -$0.36 revenue$17,046,000

Q2 2025 revenue $8.5M (+126% YoY); GAAP gross margin 29.6% vs 27.8% YoY.
Net loss $(34.9)M; Adj. EBITDA loss improved 11% to $(13.7)M from $(15.4)M.
Revenue backlog $954M (up 120% YTD); cash $58.1M (+23% QoQ).
Exclusivity signed for $300M preferred equity to fund 1.5GW owned storage IPP, targeting $100M+ annual EBITDA.
FY2025 revenue guidance reaffirmed at $200-250M; Q3 2025 cash target $60-75M.

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